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Real Estate - Home » Top 10 Myths that Trip up First-Time Home Buyers

Top 10 Myths that Trip up First-Time Home Buyers

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guthriegrouphomes

Libby Guthrie, Realtor
@ Keller Williams 865-966-5005
🏡 Helping You Make the Move to Knoxville
📱 Cell: 865-364-0200
🏡 Good People, Great Homes!

🏡 New Year Resolution: The '1% Rule' for Homeowner 🏡 New Year Resolution: The '1% Rule' for Homeowners⁣
⁣
As we kick off the new year, here's a smart financial resolution that can save you stress and money down the road: the 1% Rule.⁣
⁣
What is it? Financial experts recommend setting aside 1-3% of your home's value each year for maintenance and repairs. This proactive approach helps you avoid being caught off guard by unexpected expenses like a failing HVAC system, roof repairs, or appliance replacements.⁣
⁣
Here's how to make it work:⁣
• For a $300,000 home, that's $3,000–$9,000 per year⁣
• Break it into monthly savings: $250–$750/month⁣
• Keep it in a separate savings account labeled "Home Maintenance Fund"⁣
• Use it only for home-related repairs and upkeep⁣
⁣
Newer homes might lean toward the 1% end, while older homes often need closer to 3%. Either way, you'll have peace of mind knowing you're prepared when something needs attention.⁣
⁣
This simple habit can protect your investment and keep your home in great shape for years to come.⁣
⁣
Let us know in the comments⁣
⁣
#realestate #homeowner #homeownertips #homemaintenance #newyearresolution #homeownership #realestatetips #homecare #financialtips #homeinvestment #realestateadvice #propertycare⁣
⁣
Libby Guthrie, REALTOR® 🏡⁣
Cell: 865-364-0200⁣
Keller Williams 865-966-5005⁣
GGHKnoxville.com⁣
Libby@GuthrieGroupHomes.com
What Do 2026 Housing Forecasts Actually Mean for B What Do 2026 Housing Forecasts Actually Mean for Buyers?
If you've been waiting on the sidelines, here's what you need to know about 2026:
The Good News:
✅ Mortgage rates settling in 6.0–6.4% range (improvement from 2025)
✅ More inventory = more choices and negotiating power
✅ Less competition—bidding wars are becoming rare
✅ Sellers are more open to contingencies and concessions
The Reality Check:
⚠️ Rates won't return to pandemic lows (3% is unrealistic)
⚠️ Prices still expected to rise 0.5–4% (waiting won't mean lower prices)
⚠️ First-time buyers still face steep challenges (median age now 40)
Bottom line: The market is normalizing, not crashing. If you've been holding out for perfect conditions, you might be waiting forever. Instead, focus on what you can control—strengthening credit, building savings, and getting pre-approved.
The question isn't whether the market is perfect. It's whether your personal situation is ready.
Want to discuss what 2026 could look like for your specific goals? Let's talk strategy.
Read the full article: https://gghknoxville.com/2026-us-housing-market-forecast/ Link in bio
Libby Guthrie, REALTOR® 🏡
Cell: 865-364-0200
Keller Williams 865-966-5005
GGHKnoxville.com
Libby@GuthrieGroupHomes.com
#HomeBuying #RealEstate2026 #FirstTimeHomeBuyer #HousingMarket #MortgageRates #BuyerTips #RealEstateAdvice #HousingForecast #HomeBuyers
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Brentwood, CA 94513

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